Versace for H&M is the latest cheap chic collaboration and in a lot of critics opinion, the best Versace collection to be created in years. This new collection is definitely more Gianni and less Donatella and more South Beach and less Milano.

The anticipated collection reaches 300 stores worldwide stores Nov.17, and you can bet there is going to be a stampede into the stores. In addition, Donatella Versace has designed a pre-spring collection for H&M which will be exclusively available in countries with H&M on-line sales from Jan. 19 . The bright baroque patterns and sexy body-conscious cuts are signatures of the Versace brand’s heyday in the 1980s and ’90s. The mixture of tropical prints on tight pants and minidresses fit the trend for spring 2012.

Prices will range from $17.95 for printed male underwear, to $299 for Anna Dello Russo‘s studded leather dress, according to WWD. The other dresses range from $149 to $249, and accessories like a silk purse will set you back $199. These prices are expensive for H&M, but cheap for Versace, which is the whole point of this collaboration. There will even be some home decor items, like pillows and throw blankets.

The accessories are pretty fun, including chunky bracelets and chokers, sculpted flower rings, silk scarves and purses with heavy chain handles and palm tree prints.